HO-6 insurance is your safety net
What is HO-6 Insurance?
HO-6 is home insurance for owners of co-ops or condominiums. It provides personal property coverage, liability coverage and specific coverage of improvements to the owner’s unit. It is designed to coordinate coverage with your condominium or cooperative’s master policy.
Why Do I Need HO-6 Insurance?
Typically, the owner’s condo or co-op association provides insurance that covers the outside of the dwelling (structure). Your association’s policy will not cover your belongings or provide you with personal liability coverage if someone is harmed inside of your residence. As an owner of a condominium or co-op, you own a small portion of the entire building. If disaster strikes, you need additional coverage to account for any damage to the parts of the building you personally own, plus property damage for your possessions.
How much HO-6 Insurance Do I Need?
Consider extra coverage, for valuables, such as jewelry, fine art or fancy computer equipment. Depending on where you live, you might also need additional coverage for earthquakes, flooding or windstorms.
Speak to your insurance agent for guidance on limits suitable to your personal needs.